(1) The Government may, by notification in the Gazette, remove any non-official Director of the Board from his office for the following reasons:—
(a) if he fails to attend the meeting without the permission of the Board, for three consecutive meetings:
Provided that such absence may be condoned for sufficient reasons by the Board before the publication of the notification in the Gazette.
(b) If, in the opinion of the Government, he is ineligible or has become incapable of acting as a Director or has so abused his position as a Director as to render his continuans as Director, as such detrimental to public interest or had lost the Non-Resident status:
Provided that before removing a Director under this sub-section, he shall be given a reasonable opportunity to show cause why he should not be removed.
(2) A non-official Director of the Board removed under clause (a) of subsection (1) shall be disqualified for renomination as a Director of the Board for a period of three years from the date of his removal, unless otherwise ordered by the Government.
(3) A non-official Director of the Board removed under clause (b) of subsection (1) shall not be eligible for renomination until he is declared by an order of the Government to be no longer ineligible.